Armenia’s central bank improved its forecast for the country’s unemployment rate to 14.8% in 2022, compared to the previous estimate of 16.7%. GDP growth is expected to expand to 4.9% in 2022 from 1.6% in 2021. However, the central bank noted that in the absence of international visitors mostly from Russia and Ukraine, the estimate for Armenia’s GDP growth would be lower at 3.6% in 2022.